Stock Traders Purchase Large Volume of AdaptHealth Put Options (NASDAQ:AHCO)

AdaptHealth Corp. (NASDAQ:AHCO - Get Free Report) was the target of unusually large options trading on Thursday. Stock investors purchased 41,622 put options on the company. This is an increase of 1,002% compared to the typical daily volume of 3,777 put options.

AdaptHealth Stock Performance

NASDAQ AHCO traded up $0.11 during trading hours on Friday, reaching $10.82. The stock had a trading volume of 807,198 shares, compared to its average volume of 828,540. AdaptHealth has a 52-week low of $6.91 and a 52-week high of $11.90. The stock has a fifty day moving average of $10.00 and a 200 day moving average of $10.39. The company has a debt-to-equity ratio of 1.34, a quick ratio of 1.00 and a current ratio of 1.24. The stock has a market cap of $1.46 billion, a P/E ratio of -6.56, a price-to-earnings-growth ratio of 1.35 and a beta of 1.09.

AdaptHealth (NASDAQ:AHCO - Get Free Report) last released its quarterly earnings data on Tuesday, November 5th. The company reported $0.15 EPS for the quarter, missing the consensus estimate of $0.17 by ($0.02). AdaptHealth had a negative net margin of 6.57% and a positive return on equity of 9.62%. The business had revenue of $805.90 million during the quarter, compared to analysts' expectations of $809.32 million. During the same period last year, the company earned $0.19 earnings per share. The firm's revenue was up .2% on a year-over-year basis. Sell-side analysts predict that AdaptHealth will post 0.88 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several analysts have recently commented on AHCO shares. Canaccord Genuity Group decreased their price objective on AdaptHealth from $14.00 to $13.00 and set a "buy" rating for the company in a report on Wednesday, November 6th. Robert W. Baird dropped their price target on AdaptHealth from $16.00 to $14.00 and set an "outperform" rating on the stock in a research note on Wednesday, November 6th. Royal Bank of Canada decreased their price objective on shares of AdaptHealth from $13.00 to $11.00 and set an "outperform" rating for the company in a research report on Tuesday, November 19th. UBS Group dropped their target price on shares of AdaptHealth from $13.00 to $12.00 and set a "buy" rating on the stock in a research report on Wednesday, November 6th. Finally, Truist Financial decreased their price target on shares of AdaptHealth from $13.00 to $12.00 and set a "buy" rating for the company in a report on Friday, November 15th. Five equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company presently has an average rating of "Buy" and a consensus price target of $12.40.

Institutional Investors Weigh In On AdaptHealth

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Blue Trust Inc. boosted its stake in shares of AdaptHealth by 24.1% in the fourth quarter. Blue Trust Inc. now owns 5,746 shares of the company's stock worth $55,000 after buying an additional 1,115 shares during the last quarter. Quarry LP lifted its holdings in AdaptHealth by 4,596.9% in the third quarter. Quarry LP now owns 5,965 shares of the company's stock valued at $67,000 after acquiring an additional 5,838 shares during the period. Empirical Financial Services LLC d.b.a. Empirical Wealth Management boosted its position in AdaptHealth by 15.4% in the 4th quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 12,663 shares of the company's stock worth $121,000 after purchasing an additional 1,690 shares in the last quarter. CIBC Asset Management Inc acquired a new stake in shares of AdaptHealth during the 3rd quarter worth approximately $122,000. Finally, MBB Public Markets I LLC purchased a new position in shares of AdaptHealth during the 2nd quarter valued at approximately $142,000. 82.67% of the stock is owned by institutional investors and hedge funds.

AdaptHealth Company Profile

AdaptHealth Corp., together with its subsidiaries, sells home medical equipment (HME), medical supplies, and home and related services in the United States. The company provides sleep therapy equipment, supplies, and related services, such as CPAP and bi-PAP services to individuals suffering from obstructive sleep apnea; medical devices and supplies, including continuous glucose monitors and insulin pumps for the treatment of diabetes; HME to patients discharged from acute care and other facilities; oxygen and related chronic therapy services in the home; and other HME devices and supplies on behalf of chronically ill patients with wound care, urological, incontinence, ostomy, and nutritional supply needs.